ZEC dips toward the 50-Day EMA as momentum softens

Key takeaways

• Zcash (ZEC) is trading above $500 but continues to face selling pressure beneath a descending resistance trendline.
• The token remains above its 50-day EMA at $489 and 200-day EMA at $407, preserving its longer-term bullish structure.
• Technical indicators show mixed signals, with the RSI near neutral and the MACD slipping below zero.

Zcash (ZEC) extended its recent pullback on Thursday, trading above the $500 level as sellers continued to defend a key descending resistance trendline.

Although short-term momentum has weakened, the privacy-focused cryptocurrency remains above important long-term support levels, suggesting that the broader uptrend has not yet been invalidated.

Descending trendline limits upside

ZEC has struggled to overcome a descending trendline that currently sits near $581. Repeated rejections at this resistance level indicate that sellers remain active during rallies, preventing the token from extending its previous bullish advance.

Despite the recent weakness, Zcash continues to trade above both its 50-day Exponential Moving Average (EMA) at $489 and the 200-day Exponential Moving Average (EMA) at $407

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